On 15th I finally got current in Federal Taxes. Since the flood disaster in old home Jan 9, 2009 all I’ve done was file estimated tax each Apr 15th and let it ride. I know what I was paid, $29K and rest was total loss since insurance decided it was uninsured mold they deny coverage. Wouldn’t see my claim it was a pool of water from burst 1/4″ pipe fitting did the damage which certainly IS covered. Mold came week or so later until she opened the front door going for clothes items. Never touched them again and anything else or covered in itch. I’d bring valuable stuff to sort through and until I got it put of the upstairs game room she’d not play Video Poker there even.
OK, I’d a good 30 year old house in town on a full acre worth about $180K $25k of that land. Entire insurance was spent cleaning and tearing all down to studs and roof. How to estimate my cost to rebuild until it’s done? But first it took until late 2011 to even get permission due to county codes built now city and even were changed after we’d started. Go pay more submit changes for code await decision and do it all over and over. Bragged on ONE STOP building permits is a solid red light.
At the point where wont be long until everything is to where door can be locked with a living space and ability to do outside decking and stairs from added 2nd level office/loft. Bumps value to about $225k BUT all replacement cost and “might as well while at it. ” Seems another $190K cost to get back to livable. When I started filing last year I simply took what I paid the year as an uncompensated disaster loss discovered Jan 9,2009 but not costed out til we found what it took to replace it. IRS has a long explanatory letter and so far they accepted that. Now I’m tossing large plastic storage boxes of records up to late 2011. I explained to folks every year I take the boxes out of the office/ 4th bedroom stack all in the living /Family room,look at them and put them right back. Pretty soon I’ll see the floor and walls again! Gonna have a TEA Party! 8